You are here » Home » Companies ยป Company Overview » Kanoria Chemicals & Industries Ltd

Kanoria Chemicals & Industries Ltd.

BSE: 506525 Sector: Industrials
NSE: KANORICHEM ISIN Code: INE138C01024
BSE 11:08 | 07 Feb 123.95 -1.75
(-1.39%)
OPEN

125.25

HIGH

126.60

LOW

123.60

NSE 10:59 | 07 Feb 123.95 -1.35
(-1.08%)
OPEN

125.35

HIGH

126.75

LOW

123.25

OPEN 125.25
PREVIOUS CLOSE 125.70
VOLUME 585
52-Week high 177.00
52-Week low 99.20
P/E 26.15
Mkt Cap.(Rs cr) 542
Buy Price 123.95
Buy Qty 49.00
Sell Price 124.60
Sell Qty 4.00
OPEN 125.25
CLOSE 125.70
VOLUME 585
52-Week high 177.00
52-Week low 99.20
P/E 26.15
Mkt Cap.(Rs cr) 542
Buy Price 123.95
Buy Qty 49.00
Sell Price 124.60
Sell Qty 4.00

Kanoria Chemicals & Industries Ltd. (KANORICHEM) - Chairman Speech

Company chairman speech

The global economies remained challenged with volatility uncertaintyand disruption induced by the Covid-19 pandemic. Its impact was felt particularly onglobal supply chains. The effects of the global response to the pandemic by way of cheapmoney fuelled in ationary pressures. The subsequent measures to mitigate the risingprices by way of shock corrections to interest rates many feel could lead to animpending global recession. A careful balancing of the monetary policy by Central banksand scal prudence by Governments can yet in my opinion save the situation.

Amidst all this uncertainty India seems to have managed its responsesto the pandemic well. The Reserve Bank of India in particular has been astute andresponsive to the situation making good timely interventions. The disenchantment withChina also provides an opportunity for Indian Industry and the Indian economy. It iscritical at this juncture to look at manufacturing more comprehensively and holistically.The Production Linked Incentive (PLI) scheme can only serve as a catalyst to growth.Sustained competitiveness however is I believe the only answer for sustained growth. Thetime period between now and phasing out of the PLI scheme needs to be judiciously used toaddress the fundamental factors affecting competitiveness. The PLI scheme as it isdesigned now primarily targets large industries. The buoyant growth gures camou age thegrowing disparities between big and small. If we are to meet the aspirations of the youthwe have to evolve policies targeted at medium and small scale manufacturing with anobjective of job creation. This should also include an agenda for upskilling andreskilling in tune with the fast changing technological landscape.

As I write this statement the effects of Ukraine conflict aremanifesting itself particularly in rising energy costs. We need to be cognizant that thismight disrupt our macro-economic stability. I believe that the Reserve Bank's move towardsinterest rate correction needs to be accelerated to both control in ationary pressures aswell as encourage savings which has a direct correlation to investments and growth. At ourCompany the managements of each of the verticals have been nimble and agile in reactingto the ever changing economic conditions. During the year the Alco Chemical Segmentdelivered a much improved

financial performance. Despite the constraints faced due to thepandemic the units ran efficiently. The Alco Chemical Division is looking to expand itsexisting product lines as well as add new products at the Ankleshwar Manufacturing Unitfor which the Company has received environmental clearances during the year. As part ofthis expansion a new manufacturing facility for resins is being set up at Ankleshwar tocomplement the Company's existing facility in the eastern region in Vizag.

The Company's electronic auto component business operating under APAGCoSyst Control Systems has also begun to see the results of its expansion and initiativesfrom the prior years. The year under review has unfortunately been affected due to thedual impact of both Covid-19 pandemic and the unprecedented global shortage ofsemi-conductors. The gestation period for the Canadian plant got prolonged. The outlookfor the year 2022-23 however looks promising as the order book is very healthy.

The Company's integrated denim business operating through itssubsidiary Kanoria Africa Textiles Plc. is also much improved. The year under review hasindeed been challenging with political crisis and civil unrest in Ethiopia. The prices andavailability of cotton was also a global issue during the year. Improved efficiencies andstabilisation of production is likely to result in better prospects for 2022-23.

As I look back I believe that the Company has managed to face itschallenges and has probably emerged stronger in terms of operational ef ciency bettercash management and much more responsive to uncertainty. I am con dent that these last twoyears of stress will be put behind us and we will continue to focus on growing thebusinesses of the Company.

R. V. Kanoria

Chairman & Managing Director

.